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Bridgelux Celebrates Ten Year Anniversary as Key Leader in LED Lighting Market

To Commemorate the Event, the Company Shows Off LED That Has Been Running Continuously in Testing for Over Five Years

LIVERMORE, CA--(Marketwire - Dec 18, 2012) - Bridgelux, a leading developer and manufacturer of LED lighting technologies and solutions, celebrates its tenth anniversary this month and, to commemorate the event, the company announced that one of its LEDs has completed 48,000 consecutive hours of reliability testing.

The Bridgelux MKO 45mm LED chip -- one of the first high-power Indium Tin Oxide (ITO) technology LED chips developed for commercial applications -- continues to deliver 97 percent of its initial lumen output in the test, which has been going continuously, 24 hours a day, for a record 48,000 hours or 5.5 years. The chip is on track to deliver a lifetime performance of over 120,000 hours, or nearly 14 years, while still delivering 70% of its initial lumen output at elevated temperature and current.

"We believe that this may be the longest continuous reliability test for this ITO power chip generation," said Steve Lester, chief technology officer for Bridgelux. "The industry has always stated that its chips could deliver this kind of performance over the long haul. Bridgelux has empirically demonstrated that its products can deliver on this promise with actual data. This evidence is clearly transferable to the reliability of Bridgelux® chips used in solid state lighting and is just one of the reasons why we are seeing the mass adoption of SSL."

Bridgelux 10 Year Milestone, Achievements, Awards

Tuesday, December 18, 2012, marks the tenth anniversary of Bridgelux. In 2002, "clean technology" barely existed. Solar developers worldwide installed around 300 megawatts of panels in 2002. This year, 31 gigawatts of solar, or 100 times more, will be installed. General Electric entered the wind energy market in 2002, and was the year electric car expert, Tom Gage, introduced Elon Musk and Martin Eberhard: the two went on to create Tesla Motors.

Over the past decade LEDs have shifted from being components for indicator lights to a true, economical replacement for traditional light bulbs, streetlights, retail and commercial office lighting. The cost of white LEDs has fallen from $152 per kilolumen, or components that can emit 1,000 lumens, in 2002 to under $4, according to Strategies Unlimited. This is a 32.5 times reduction in price in the past ten years. Additionally, LED efficiency for cool white LEDs has risen from 25 lumens per watt to over 130 lumens per watt1. "Warm" white LEDs, which emit the same colors as incandescent bulbs, didn't exist in 20022. The price of LED light bulbs for consumers has dropped from over $90 in 2008 to under $25 today.

As a result, demand is growing dramatically. LED lighting constituted a $9.4 billion market in 2011 and is expected to grow by 20 percent per year through 2016. Bridgelux's revenue in 2012 will come to approximately $90 million.

A large part of Bridgelux's success is due to the company's drive to innovate and team up with key partners and customers. Bridgelux has introduced several new packaging and component-level technologies which have cut the cost of luminaires and lamps. The company's latest the Vero™ array, increases lumens per watt by up to 20 percent while lowering the price. Bridgelux also collaborated with Chevron Energy Solutions on a program that allows cities to install LED streetlights without an upfront capital commitment: the cost of the new streetlights is paid for through achieved energy savings.

Looking ahead, Bridgelux will further advance solid state lighting with GaN-on-Silicon, a new technique for producing LEDs that could slash the cost of solid state light sources by over 70 percent. The technology was developed in conjunction with Toshiba, which is also an investor in Bridgelux. Additionally, Bridgelux is working with partners to embed intelligence into LEDs: lights will be used to change the look of interior spaces on the fly or communicate with consumers or automobiles.

"Lighting is the last vestige of vacuum tube technology. In just a few years we've dramatically made strides to bring it into the 21st Century, but the innovations coming from our team and our partners over the next five years are going to be even more eye-popping," said Bill Watkins, Bridgelux CEO. "Stay tuned."

Several industry organizations have recognized the company for its market potential, impact, strong management and growth. This past year alone, the company was named to the Global Cleantech 100 and the San Francisco Business Times' list of 100 Fastest Growing Private Companies; was ranked number 128 on Deloitte's 2012 Technology Fast 500 list; and was chosen by AlwaysOn as one of the GoingGreen Global 200 winners and well as INC.'s 5000 list.

About BridgeluxBridgelux is a leading developer and manufacturer of technologies and solutions transforming the $40 billion global lighting industry into a $100 billion market opportunity. Based in Livermore, California, Bridgelux is a pioneer in solid state lighting (SSL), expanding the market for light emitting diode (LED) technologies by driving down the cost of LED lighting systems. Bridgelux's patented light source technology replaces traditional technologies (such as incandescent, halogen, fluorescent and high intensity discharge lighting) with integrated, solid state lighting solutions that enable lamp and luminaire manufacturers to provide high performance and energy efficient white light for the rapidly growing interior and exterior lighting markets, including street lights, commercial lighting and consumer applications. Bridgelux is the only vertically integrated LED manufacturer and developer of solid state light sources that designs its solutions specifically for the lighting industry. For more information about the company, please visit www.bridgelux.com

Bridgelux and the Bridgelux stylized logo design are registered trademarks, and Vero is a trademark, of Bridgelux, Inc. All other trademarks are the property of their respective owners.